Gold investment market Russia
The relevance of gold as Russia’s strategic asset The World Gold Council has published the report on Russia Gold as, the relevance of gold as a strategic asset Russia edition. The report is focusing on Untapped gold demand in Russia with insight. The investment market for gold in Russia has remained relatively undeveloped for many years, in contrast to the relatively rapid demand growth witnessed in China and Europe, where demand for gold bars and coins has multiplied more than tenfold in both markets over the last 15 years. One significant barrier to potential gold market development in Russia is the disincentive created by the hefty rate of VAT (value-added tax) – at 20% applied to bullion bar purchases. But we believe awareness of gold as an asset among Russian citizens is strong and demand for gold would likely grow, particularly if investors had access to a trusted range of products and fair and transparent pricing. These findings are reinforced by World Gold Council’